Commitments

12 Months Ended

Mar. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

(10) Commitments

The Company leases office space under non-cancellable operating leases expiring in various years through April 2013. The future minimum lease payments under these operating leases are as follows:

2013		125,000
2014		28,000
	$	153,000

Operating lease rent expense (including real estate taxes and maintenance costs) was $76,928 and $87,610 for the years ended March 31, 2012 and 2011, respectively.

On November 14, 2011, the Company entered into an agreement to renew the existing sublease on its executive office space in Jericho, NY. The seven-year non-cancelable operating sublease with American Para Professional Systems, Inc. (“APPS”), an entity under the control of the Company’s Chairman of the Board, expires on November 30, 2018. Basic rent under the sublease has been established as a pass-through with the Company’s cost being fixed at a cost equal to the pro-rated rent payable for the subleased space by APPS to the building’s landlord. Rent expense paid to this related entity for the years ended March 31, 2012 and 2011 was $35,821 and $42,151, respectively.

Minimum lease payments under the related party sublease as of March 31, 2012 are as follows:

2013	$	43,000
2014		45,000
2015		47,000
2016		51,000
2017		52,000
Thereafter		90,000
Total	$	328,000